That's partially right. It's also dependent on your payment history, and how many open lines of credit you have. I have 3 credit cards. I use 2 of them. However- My credit score is 840 and will never hit 850 because every damn month they tell me "You have too many open lines of credit". Doesn't matter that I pay off the bill every month.
I've never seen where income is a metric for credit scores, but of course mine has been constant for 30 years. I do know that your available credit available is high on the list, so I except my score to dip a bit next month. ------------------------ I was under the impression the available credit you have in relation to your income is what determines your credit score. I think if CAPITAL ONE is doing this other banks will follow.
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